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Sale of Carlson Hotels Inc. to HNA Tourism Group is Completed

December 9, 2016 Hotel Developments No Comments Email Email

Today, the Chinese group HNA Tourism Group Co, Ltd. (“HNA”) announced the successful completion of its purchase of Carlson Hotels Inc. from Carlson Hospitality Group, Inc. This transaction includes Carlson’s stake in Rezidor Hotel Group AB (“Rezidor”), representing 51.3% of outstanding shares.

For further information related to the acquisition, please refer to:
http://mb.cision.com/Main/15255/2139729/601038.pdf

Please also refer to press release issued by Rezidor on 28 April 2016 when the transaction was first announced:
http://www.rezidor.com/phoenix.zhtml?c=205430&p=mediaRelease&ID=2162452

Rezidor notes that HNA is now under an obligation to either launch a mandatory tender offer for the remaining outstanding shares in Rezidor or sell down its ownership in Rezidor below thirty percent within four weeks from the completion, i.e. no later than 4 January 2017. Rezidor has not been provided with any further information regarding HNA’s intentions.

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